Monthly, we update our wholesale investors on what’s happening in the market. Running what’s probably the only late-night trading desk from New Zealand, we’re well-positioned to feel the pulse of the market’s direction.

 

On a rough bus ride, there’ll always be a few passengers who clutch the seat a little tighter. And September certainly gave markets a reason to grip the armrests.

Volatility was expected. Seasonal trading patterns, thinner liquidity, and elevated oil prices from the Iran situation all contributed to rising bond yields and a sell‑off in equities, especially in real estate.

A further challenge has been the sharply weaker NZ dollar — now looking oversold after an extended period of pressure.

If the coalition holds in November, political continuity could help trim some of the domestic risk premium, though global yield dynamics will probably remain the dominant driver.

 

Source: StockMKTNewz / X

 

Well, as any seasoned traveller knows, a rough ride often leads to a rewarding destination.

Buying into these dips has historically positioned portfolios well for the remaining — and typically more bullish — months of the year.

 

Managed Account performance*

 

For the month of September 2026, we were down –0.88% across the composite portfolio (total aggregate TWR return across all portfolios following the strategy).

Our average annualised return since inception is 13.06% p.a.

Please see our performance chart for more details.

 

Benchmarking

 

Our MSCI EAFE benchmark was down –2.43%.

The S&P 500 benchmark was up 0.26%.

Our blended MSCI EAFE/S&P 500 benchmark was down –2.03%.

We did better than our benchmark this month as our US tech and energy positions strengthened, offsetting softer conditions in Europe and Australia.

 

Our Upcoming Coffee & Capital Event

 

 

Does financial freedom matter to you? Are you looking for common sense? Well, we want to extend an invitation for you to come join us at our next live event. Here’s what we’ll cover:

  • The New Zealand general election is fast approaching. Is this a turning point for our nation’s destiny? We’ll look at the major choices facing voters, the financial stakes involved, and what the outcome may mean for future prosperity.
  • The Left bloc is rolling out new taxes on income, capital, and land. What will this mean for you and your family? We’ll examine how the tax proposals could impact your wealth, and what we are doing to protect our clients with risk-managed global portfolios.
  • Strategic electorate and party voting will decide the balance of power. What can you do to make your vote count? We’ll unpack how MMP works, why the electorate vote and party vote can have very different consequences, and how this will influence the shape of the next government.
  • Rising bond yields and Iran anxiety have led to market turbulence. Is this creating a window for courageous investors? We’ll look at the opportunities to buy discounted global assets in promising sectors. This could be the ideal moment to build a runway for future growth and income.
  • Most importantly, we look forward to engaging with you in person. As always, we’ll make plenty of room for your comments and questions as we discuss what could be New Zealand’s most consequential election in years.

 

 

 

 

 

COFFEE & CAPITAL

Friday, 16 October 2026
11:00am to 12:00pm

❌ This Event Is Now Sold Out

 Fields Café (Function Room)
4 Appian Way, Albany, Auckland

$37 per person / limited spaces
Includes any menu item, coffee

 

 

[ Special Member Price ]
For Managed Account clients & Quantum Wealth subscribers

❌ This Event Is Now Sold Out

$27 per person / limited spaces
Includes any menu item, coffee

 

 

 

Regards,

Simon Angelo

Editor, Wealth Morning 

*Past performance is not an indicator for future performance. Your actual portfolio will differ from the composite portfolio mentioned. The information contained in this document does not constitute an offer to sell or a solicitation to buy an investment, nor should it be construed as investment advice. Wealth Morning Managed Accounts are available to Eligible Investors and Wholesale Investors (not to Retail Investors) as defined in the Financial Markets Conduct Act (2013).

 

 

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